Argo Gold staked the Campfire Lake Property consisting of 41 claim units covering 890 hectares on the possible eastern strike extension of Werner – Rex Lakes Fault Zone. The Campfire Lake claims groups are in the Kenora Mining Division and the newly acquired claims are 100% owned by Argo Gold.
The Werner – Rex Lakes Fault Zone lies near the southern boundary of the English River Paragneiss Belt and is marked by a 30 kilometre long linear zone of amphibolite and ultramafic rocks with numerous showings of associated Ni, Cu and Co-bearing sulfides. The Werner Lake Mine - located 10 kilometres west of the Fortune Lake Property on the mineralized trend - was first staked in 1928 by Kenora Prospectors and Mining Ltd and then mined by Ventures Ltd (later Falconbridge) in 1940-44 producing 143,386 lbs. of cobalt.
The property is located 50 kilometres east of the Werner Lake Mine site. The claims cover a Co-Cu lake-sediment geochemical anomaly discovered by an Ontario Geological Survey high-density lake sediment survey carried out in 2014. The anomaly is on trend with the Werner-Rex Lakes Fault and its associated mineral deposits. Cobalt and copper values defining the anomaly are in the >99 percentile of the population of samples taken in the survey. There is no record of previous staking in the area.
Argo Gold believes follow-up exploration activity is warranted at the Campfire Lake property based on: the lake sediment anomaly associated with known mineralization on the trend; and, the presence of a relatively high grade, although small, cobalt mine on the trend.